The DAX Futures is trading at 12,806.50 with a loss of -0.55% percent or -70.50 point . The FTSE 100 Futures is trading at 7,675.50 with a loss of -0.58% percent or -45.00 point. The CAC 40 Futures is trading at 5,508.93 with a loss of -0.61% percent or -33.61 point . The EURO Stoxx 50 Futures is trading at 3,454.00 with a loss of- 0.40% percent or -14.00 point.
TODAY’S FACTORS AND EVENTS
The twists and turns of Italian politics continue, and an extraordinary weekend may have triggered a fresh political crisis. On Sunday, President Sergio Mattarella vetoed the choice of economic minister by the two parties entrusted with forming a coalition, the League Nord and the Five Star Movement. Mattarella rejected the suggestion of Paolo Savona for economic minister, given that Savona is a firm critic of the euro and supports Italy exiting from the eurozone. The head of the Five Star Movement demanded that Mattarella be impeached, charging that the president was taking orders from Brussels. On Friday, Moody’s rating agency said that it could reduce Italy’s sovereign debt rating over fears of the new government’s fiscal policies. The current impasse may result in another general election, which could sour investor sentiment and send the euro lower.
For the day the Dow is trading at 24,753.09 with a loss of -0.24%percent or -58.67 point. The S&P 500 is trading at 2,721.33 with a loss of -0.24% percent or -6.43 point. The Nasdaq Composite is trading at 7,433.85 up with +0.13% percent or +9.42 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,358.43 with a loss of -0.55% percent or -122.66 point. Hong Kong’s Hang Seng is trading at 30,531.85 with a loss of -0.85% percent or -260.41 point. China’s Shanghai Composite is trading at 3,119.11 with a loss of -0.51% percent or -15.98 point. India’s BSE Sensex is trading at 35,108.69 with a loss of -0.16% percent or -56.79 point at 12:15 PM.